Romios Closes $605,000 Non-Brokered Offering
Romios Closes $605,000 Non-Brokered Offering
Toronto, Ontario--(Newsfile Corp. - November 8, 2018) -
Romios
Gold Resources Inc.
(TSXV: RG)
(OTC Pink: RMIOF)
(FSE: D4R)
("
Romios
" or the "
Company
")
is pleased to announce that, further to its press releases of September 26, 2018
and October 2, 2018, it has closed the final tranche of its non-brokered private placement (the "
Offering
") with the sale of
625,000 working capital units (the "
WC Unit
") at a price of $0.08 per WC Unit for $50,000, raising an aggregate of $605,000
under the Offering. The securities issued in this second tranche are subject to a statutory hold period expiring on March 9, 2019.
Proceeds from this tranche will be used for working capital.
Each WC Unit is priced at $0.08 and consists of one (1) common share and one (1) common share purchase warrant ("
WC
Warrant
").
Each WC Warrant entitles the holder to purchase one (1) common share (a "
WC Warrant Share
") at a price of
$0.12 per WC Warrant Share until the date which is twelve (12) months following the Closing of the Offering.
An insider of the Company subscribed for 125,000 WC Units of this Offering. The insider private placement is exempt from the
valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("
MI
61-101
") by virtue of the
exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the
securities of the Company issued to the insider did not exceed 25% of its market capitalization.
About
Romios
Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is engaged in precious
and base metal exploration primarily focused on gold, silver and copper on its properties in the Golden Triangle area,
northwestern British Columbia. In addition to the properties in the Golden Triangle area, Romios holds a 100% interest in the
Lundmark-Akow Lake property in Ontario, the LaCorne Property in Quebec and the Scossa Property in Nevada. It also holds a
2% Net Smelter Return Royalty on the Hislop property in Ontario.
This News Release contains forward-looking statements which are typically preceded by, followed by or including the words
"believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not
guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume
any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such
statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas,
President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email)
.
Frank van de Water
, Chief Financial Officer and Director, (tel) 416-221-4124 or (email)
.